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4/15, 8:00 AM (Source: TeleTrader)
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German inflation up to 1.7% in March

Consumer prices in Germany rose 1.7% in March compared to the same month last year, the Federal Statistical Office (Destatis) said on Thursday, thus confirming its provisional estimate. The figure marks an increase from February's annual inflation rate of 1.3%.

Goods prices contributed significantly to the increase as they jumped 1.9% year on year, with energy prices surging 4.8% and food prices rising 1.6% compared to March 2020. Meanwhile, services prices added 1.6% on an annual basis.

On a monthly basis, consumer prices in Europe's largest economy were 0.5% higher compared to February. The harmonized index of consumer prices for Germany increased by 2% from March last year and gained 0.5% month on month.

Breaking the News / NP